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Numis has upped its target price to £12.50 per share from £11.30 previously after its acquisition earlier this week of ProVita. The broker sees further upside from synergies with recent acquisitions, as well as continued deployment of its debt facility and retains its “buy” rating.
Telford’s house broker Peel Hunt said investors may have been concerned about Telford’s London exposure but strong trading shows that “Telford’s London”, which targets more affordable areas, is still a positive market. The broker moved its fair value estimate from 435p to 490p.
BRITISH AMERICAN TOBACCO
Credit Suisse has reinstated its coverage with a rating of outperform and a target price of 3,600p per share. The bank argued that the company has arguably the most consistent track record in consumer staples, consistently delivering 10 per cent constant exchange rate earnings per share growth.